(1) Notwithstanding anything contained in the Registration Act, 1908, or any other law for the time being in force, a deed creating charge or mortgage in any land or interest therein or in other immovable property, executed by a borrower member in favour of a [Gram Vikas Bank] 2 or the [Uttar Pradesh Gram Vikas Bank] 3 for the purpose of securing repayment of loan, shall be deemed to have been duly registered in accordance with that Act with effect from the date of the execution provided the bank has sent to the Sub-Registrar within the local limits of whose jurisdiction the whole or any part of the property charged, or mortgaged is situate, within, a period of three months from the date of execution, by registered post or hand delivery under acknowledgement, a copy of the document creating such charge or mortgage duly certified to be a true copy by any employee of the bank authorized to sign on its behalf and the Sub-Registrar concerned shall file such copy or copies, as the case may be, in his Book no.1 prescribed under section 51 of the-Registration Act, 1908.
(2) Where the Sub-Registrar is of the opinion that the said document is not duly stamped or that it suffers from any defect arising out of accidental slip or omission, he shall send back the copy or copies, as the case may be, of the document to the bank requiring it to get the deficiency in stamp duty made good on the original or to get the defect removed within thirty days or within such extended time as the Sub-Registrar may allow in that behalf. The bank shall get the deficiency made good or the defect removed, notwithstanding anything contained in the Indian Stamps Act, 1899.
(3) After the deficiency in stamp duty has been made good, or as the case may be, the defect has been removed, the bank shall send the copy of the document again to the Sub-Registrar in the manner laid down in sub-section
(1), and thereupon the Sub-Registrar shall file the copy in Book no. 1 in accordance with the provisions of sub- section (1).
1. Substituted by section 7 of U. P. Act No. 3 of 1979.
2. Substituted by section 4 (b) of U.P. Act No. 19 of 1994.
3 .Subs. by section 4 (d) ibid.
[The Uttar Pradesh Sahakari Gram Vikas Bank Act, 1964] [Section 23A-27]
(4) Notwithstanding anything contained in the Registration Act, 1908 it shall not be necessary or the borrower member, the Trustee or for any officer of a [Gram Vikas Bank] 4 or of the [Uttar Pradesh Gram Vikas Bank] 4 merit Bank to appear in person or by agent at any registration office in any proceedings connected with the registration of any instrument executed by him in his official capacity or to sign as provided in section 58 of the said Act.
[Revenue Register for noting charge or mortgage 23-A A where a copy of the document creating charge or mortgage has been sent for registration under section 23, the hank shall also send a copy of such document to the Tahsildar or such other official as may be, designated in this behalf by the State Government. The Tahsildar or other official shall make a note of the particulars of such charge, or mortgage in a register maintained for this purpose. The register shall be in such form and inspection thereof shall be allowed and copies of extracts there from issued in such manner and on payment of such fee as may be prescribed.]
1 [Delegation of certain powers by Board
24. The Board may, if it thinks fit, delegate all or any of its powers under section 16, 18 and 21 of this Act to anyone or more of the officers of the Bank.]
2 Section 102. 103 and 104 of the Transfer of Property Act, 1882 to apply to notices under this Act
25. The provisions of sections 102 and 103 of the Transfer of Property Act, 1882 and of any rules made by the High Court under section 104 of the said Act for carrying out the purposes of the said sections, shall apply, so far as may be, in respect of all notices to be served under this Act.
Act IV of 1882 Mortgages executed by manager of joint Hindu families